Category: Blog | Page 2 | Assured Allies

Building Diversity in LTCI Leadership: Meet Heather Kane

Heather Kane, Vice President of Sales & Marketing at Equitrust Life Insurance, was happy to share with us the many ways that she is intentional about mentoring young women to become LTCI leaders of tomorrow. In this brief interview, one of our exclusive series in honor of International Day of the Girl 2023, we hope you’ll enjoy her many tips and insights about how to grow diversity at the leadership level.

How long have you been in the LTC space and what attracted you to pursuing this career path?

Over the last twenty-five years, I’ve touched all facets of the insurance business, including sales, marketing, contracting, and operations, and have even sold products as an independent producer. Location played a significant role in my career path. Des Moines, Iowa, is the number two state in the country for annuity and life insurance companies, which has provided me with exciting growth opportunities.

My LTC chapter began two years ago when EquiTrust partnered with Assured Allies to develop Bridge, a new hybrid annuity product with an LTC rider and the NeverStop wellness program. It’s been rewarding to use my health license and be on the front lines of developing an innovative product that goes beyond providing financial coverage and helps policyholders live healthier and better in retirement. I’ve enjoyed dipping my toes into technology and being the driving force behind building an interactive agent portal.

Did you have any female role models? How did they support your career growth?

I’ve been very fortunate. At my first job in banking, the branch vice president was an excellent role model. Her support sparked my curiosity to learn new things, which gave me confidence in my ability to grow. Within the insurance industry, I’ve benefitted from several leaders who took me under their wing, honored an open-door policy, and provided valuable guidance on building a strong business presence. They helped me develop my leadership style and insisted that I never apologize for not knowing something and instead embrace it as a learning opportunity. That has always stuck with me. There are many female leaders at EquiTrust. It’s a positive environment supporting women’s career development and growth. I have colleagues who are trusted sounding boards.

Have you been a mentor? How have you helped an aspiring female professional pursue a career in long-term care insurance?

I certainly make an effort to support and encourage the women around me. Inspired by my early career days, I encourage them to be curious, learn about different aspects of the business, and seek out growth areas. Being a mentor is often about helping people see their strengths. After meetings, I acknowledge each person’s valuable contributions. It’s a small way to create a positive learning environment with open feedback.

I’ve also supported aspiring colleagues to take additional training courses to expand their knowledge. Overall, I encourage women to find something they are passionate about doing. There is no point in just going through the motions. I’m a big believer in feeling like you make a difference. Make what you do matter!

Can you share any memorable experiences or instances where your influence has brought about positive change in the industry?

Developing and launching Bridge is an example of making a positive change in the industry. It’s a unique product that makes aging better in retirement accessible to everyone. The fact that it has a 100% guaranteed acceptance rate and provides LTC coverage benefits to people who typically would be denied is a game-changer. Women are usually caregivers, and this new product’s wellness program provides them with support and tools to take care of themselves, too.

What do you believe is the key to empowering more women to pursue leadership roles and become influencers in the long-term care insurance sector?

We are seeing more female leadership in our industry. I was encouraged by the strong female representation at last month’s CLTC (Certification for Long-Term Care) Summit. Working for a company that supports professional development and career growth is very important. EquiTrust is a member of Tero International and offers two different nine-month corporate training programs for executives and managers. I’ve nominated female members of my team to attend.

How do you envision the future of female representation in the industry, and what steps do you believe should be taken to further promote gender equality and inclusivity?

One of the best ways to promote equality and inclusivity is to nominate women for leadership roles at industry associations. There’s an opportunity to embrace the competition and create a more united front across all carriers. We can build a stronger voice together by getting involved in influential organizations.

Currently, I’m a board member of the National Association for Fixed Annuities (NAFA) and served on the Executive Committee for four years. Years ago, I admired another female board member and knew I would learn from her by getting involved, so I joined her committee. Several years later, I was nominated to be on the board. It has been a productive way to use my voice and help shape the industry and future female leaders.

October 13, 2023/by Michelle Spinale

Building Diversity in LTCI Leadership: Meet Linda Thalheimer

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Linda Thalheimer, a Long Term Care Specialist, author, and public speaker, was delighted to chat for a few moments in honor of International Day of the Girl 2023 for our exclusive series of interviews on women leaders in LTC. Linda’s passion and dedication are evident in all she does to help people plan for successful aging. Enjoy!

How long have you been in the LTC space and what attracted you to pursue this career path?

I have been in the LTC insurance space for 23 years. However, I spent 16 years in health care, so in total, my career has spanned 39 years.

Did you have any female role models? How did they support your career growth?

My mom was a great role model. She always worked part-time so that she could focus on the family. As soon as we were grown, my mother returned to school, got her master’s degree, and became the town’s first female director in the Special Needs Program. Having her as a unique role model enabled me to be patient with my career goals. My children were my priority.

I planned accordingly, got my master’s degree, was published in the American Association of Occupational Therapy Magazine, and was recognized as a National Speaker by Harvard’s Division on Aging before the birth of my first child. This preparation gave me a greater chance of quality part-time employment until I could turn on my career full-time. When my children went off to college, I jumped in with both feet and enjoyed the success of being an independent business owner. Becoming an LTC insurance specialist was a perfect career choice. It was a natural transition from health care and allowed for unending growth based on my commitment, education, and initiative. When I began my career, the financial world was primarily men. I enjoyed bringing a unique perspective to LTC planning.

Have you been a mentor?

I believe education, ethics, and compassion are the keys to success in any career. I love being a mentor to other LTC professionals. I am a regular presenter for the Buddyins Team, which provides ongoing education to other insurance and financial professionals. I am also on the CLTC (Certification for Long-Term Care) board of advisors and co-wrote the LTC Claims brochure to reinforce the importance of setting accurate expectations at the sale and how to guide an insured through the claims process to ensure the promises sold are kept. Teamwork is a critical part of ongoing learning. I have been fortunate throughout my career to have a team of LTC professionals who are always available to discuss complex cases or update each other on changes in the industry.

How have you helped an aspiring female professional pursue a career in long-term care insurance?

I met Maureen at a networking group and recognized that she was always prepared, well-spoken, and committed to excellence, ethics, and compassion. When I learned she had lost her job during COVID, I offered to hire and train her as a LTC specialist, so she would never depend on an employer and feel confident about being a self-employed business owner.

Can you share any memorable experiences or instances where your influence has brought about positive change in the industry?

Every time I present, I aid in influencing ethical sales behavior by identifying details of contracts, educating the importance of setting expectations and focusing on the client’s needs. I have always been quick to address change with insurance companies when I feel they are not fulfilling their promises to their clients.

What do you believe is the key to empowering more women to pursue leadership roles and become influencers in the long-term care insurance sector?

Many people who are looking into LTC have had or are in the process of caring for a parent or spouse. They are very vulnerable and could easily be taken advantage of. Women are especially good at supporting, patiently educating, and helping other women to take control of their financial futures. LTC insurance is a tree in the forest of financials. Therefore, women LTC specialists effectively empower women to take control of their financial forest as they plant the tree of LTC insurance.

How do you envision the future of female representation in the industry, and what steps do you believe should be taken to further promote gender equality and inclusivity?

I have already seen a significant increase in women in this industry. Cultivating a relationship is at the forefront of creating the trust to accept education and guidance through the LTC planning process. I expect more women to engage in this industry as women are uniquely poised to help other women.

October 12, 2023/by Michelle Spinale

Building Diversity in LTCI Leadership: Meet Nkenge Blue

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Nkenge (Kenge) Blue, Head of Actuarial at Assured Allies, was delighted to chat for a few moments in honor of International Day of the Girl 2023 about why she was drawn to a career in the insurance industry and why she encourages other young women in the field to hone their leadership skills.

How long have you been in the LTC space and what attracted you to pursue this career path?

I’ve been in the LTC space for about two years and the life insurance industry more broadly for about ten years. What attracted me to LTC in recent years was my interest in products that provide living benefits and the direct impact LTC has on policyholders during their later years.

Did you have any female role models? How did they support your career growth?

The role models that most significantly impacted my career took the time to get to know me on a personal level and encouraged me to bring my authentic self to work. This was invaluable for me early in my career because, as a Black woman, I rarely saw myself represented in the industry and admittedly was reticent based on preconceived notions of what an insurance professional looks like or how one should act. These role models instilled confidence in me to be boldly me, despite the lack of representation in the field, which has propelled me to be more influential as a leader.

Have you been a mentor? How have you helped an aspiring female professional pursue a career in long-term care insurance?

I try to help female professionals in a similar way as those who helped me, by empowering them to be vocal and share their opinions – beyond simply developing the knowledge and skill sets required for a career in LTCi. For example, I recently encouraged someone to take more of a leadership role in projects we do as a team rather than the backseat.

Can you share any memorable experiences or instances where your influence has brought about positive change in the industry?

What we’ve done recently at Assured Allies in our collaboration with EquiTrust to bring the Bridge Annuity to market is a great example. We were able to bring an LTC product to market that has a true 100% guaranteed acceptance rate, which expands the market to those that historically can not receive coverage. As the Head of Actuarial, my team was heavily involved in the product development and the digital underwriting experience that make the guaranteed acceptance possible.

How do you envision the future of female representation in the industry, and what steps do you believe should be taken to further promote gender equality and inclusivity?

I envision a future where representation is not simply done to check a box but instead is viewed as a strategic advantage and is a key part of the industry’s value proposition. That mindset will inherently amplify female voices, ensure women have a seat at the table when it comes to decision-making, and encourage more women to join the profession and improve our offerings to the end consumer. As for steps, investing in women will promote equity and inclusion. This investment can be in hiring, mentoring, and increasing awareness of unconscious biases.

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Discover how Kenge and her team are infusing traditional actuarial science with clinical research, technology, and data science at Assured Allies.

October 11, 2023/by Michelle Spinale

An Expert in Aging Takes on Netflix’s Live to 100: Secrets of the Blue Zones

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I am not a movie reviewer. So why am I commenting on this buzzed-about Netflix show about people who muscle past 100?

Because as a licensed social worker with a bachelor’s degree in gerontology, I’m captivated by everything aging-related: movies, articles, TV shows, and books. I have an undeniable weakness for viral videos of golden agers living their best life, celebrating special moments, and showcasing impressive Jitterbug dance moves. However, seeing older adults portrayed as stereotypes is one of my biggest pet peeves. We need more accurate and inspiring representations in the media.

That’s why I was drawn to the new Netflix series Live to 100: Secrets of the Blue Zones. Watching it put a big smile on my face and gave me hope for the future. At least most of the time, as you will discover.

What’s the show about?

The four-part documentary series chronicles the work of longevity researcher Dan Buettner, author of The Blue Zones Secrets for Living Longer: Lessons From the Healthiest Places on Earth. He has spent his career researching Blue Zones, communities with high concentrations of those living to 100 or more, and identifying trends to help us understand the keys to longevity – physical and emotional.

The series explores the Blue Zones in Okinawa, Japan; Ikaria, Greece; Sardinia, Italy; Nicoya, Costa Rica; and Loma Linda, California. I did not validate his research, but he presents four major themes that contribute to healthy aging, which resonate based on the literature and my work with older adults:

1. Having a positive outlook on life

2. Moving naturally

3. Eating wisely

4. Connecting with others

The importance of purpose, community, and wellness

The centenarians in Okinawa, Japan, are marked by a positive outlook on life by maintaining purpose well into their later years. This behavior reflects flow and continuity. Interestingly, they don’t have the concept of retirement and, therefore, continue contributing to their society in some way as they get older. Purpose inspires them to connect with others and plays an essential part of their daily life. The series also introduces us in the West to some cultural practices and behaviors we were probably unaware of, including the concept of a moais. This community group provides its members financial and social support, often for decades.

Also important to the Okinawans is the way they literally move through life. They don’t use chairs, so they stand up and sit down on the floor throughout the day, which helps them maintain core strength and balance. Many older adults in this region continue to grow their own food and maintain a garden. They “eat wisely” by being mindful and have a saying, hara hachi bu, which reminds them to stop eating when they’re 80% full. Their diets are primarily plant-based and nutrient-dense; purple sweet potatoes are a staple in the Okinawa diet.

Would the Blue Zones be this “blue” if technology grabbed hold of them?

Throughout the series, I was struck and inspired by the vitality, happiness, and sharpness of those portrayed in the show. However, the cautionary words at the end of the third episode (“The End of the Blue Zones?”) were disheartening, although unsurprising. We all know that our society’s modernization is making it more challenging to engage in healthy practices naturally. Inactivity and longevity are enemies, and many everyday tasks, from housekeeping to commuting to work, are being replaced by technology.

Processed foods are also a threat, as the new book Ultra-processed People has made categorically and calorically clear. The industrial food system, which is inevitably invading the Blue Zones, makes eating healthy vastly more challenging when processed foods are cheaper and much more readily available than unprocessed ones.

Buettner has a don’t-blame-the-victim point of view. He believes that people who engage in unhealthy habits aren’t to blame. It is their environment and the manipulative forces they are subject to, over which they often have little control.

The Blue Zones Vitality Project

The documentary makes clear that healthy living requires a cooperative environment in more than one way. In fact, in many ways. If healthy living is easy, everyone benefits–individuals, their families, and society. Tragically, for the most part, the environment is foe, not friend, and positive individual choices require too much effort.

Buettner reached an insightful conclusion, a bitter reality that led to his work with AARP to create the Blue Zones Vitality Project. This effort aims to extend Blue Zones concepts to communities across the U.S. to make their environments more conducive to healthy aging. His team works with cities to make them more walkable and accessible, create more opportunities for meaningful engagement, and provide better access to healthy foods.

Albert Lea, Minnesota was the first Blue Zones Project pilot in 2009. The community’s commitment to well-being resulted in the following measurable impact:

$8.6 million—savings in annual health care costs for employers as a result of a decline in smokers
34th place—in the Minnesota County Health Rankings (up from 68 out of 87 counties)
2.9 years—added to lifespans (projected) within one year of participating in the Blue Zones Project

Going strong, The Blue Zones Project has cracked the code for transforming health outcomes for large populations. The website features impressive results in multiple communities as well as these overall outcomes:

Double-digit drops in obesity, smoking, and BMI (body mass index)
Millions of dollars of savings in healthcare costs
Measurable decreases in employee absenteeism

Policies put hope into practice

The series concludes by focusing on Singapore, a modern nation whose policies prioritize successful aging and longevity. These can be controversial. For example, they intentionally make cars more expensive for individuals to own and use that revenue to invest in a beautiful, walkable city with an efficient public transportation system. They also provide tax credits to caregivers who live close to their elderly loved ones, subsidize healthy foods, and tax unhealthy ones.

Seeing the creative use of policy that has become a practice in Singapore was incredibly inspiring. As a social worker specializing in gerontology, it gave me hope that if we as a country and the macro level – and as thousands of communities on the micro level – committed to prioritizing healthspan through our policies, it can change the aging trajectory. Yes, it requires a mind shift, but we’ve successfully shifted the cultural tectonic plates. Just look at how the approval of gay marriage changed. Pew notes, “The rise in support for same-sex marriage over the past decade is among the largest changes in opinion on any policy issue over this period.”

Policy change can be slow but don’t need to wait. We can start by applying the learnings from the Blue Zones in our everyday life–incorporating daily movement, having a positive outlook (whether that’s through finding purpose or finding ways to unwind), eating wisely, and investing in connections with others (whether that be family members, friends, or our partners).

Key takeaways to incorporate into your lifestyle

Buettner sums up longevity with this wheel. In other words, we must reinvent the wheel of aging. Aspects of each of the four categories must collaborate in a symbiotic way. We all want a magic pill for longevity. But the series’ most honest and important takeaway is that there is none. But – and this stuck with me, and I hope with you–”the same things that help us live a long, healthy life are the things that make life worth living.”

Here’s a summary of the 12 habits that can add years to your life: How to Live to 100, Wherever You Are in the World. That’s more than eight years for each!

Image: Netflix, 2023

Marissa Badler, LICSW, C-ASWCM, CCM

Marissa Badler is a licensed master’s level social worker with a bachelor’s degree in gerontology. She has spent her career working with older adults in a variety of community and facility-based settings, primarily doing different types of case management. She has been at Assured Allies for five years and currently serves as the Senior Manager of Ally Success, ensuring that our Allies have the tools they need to be successful at helping our members.

September 26, 2023/by Marissa Badler

Follow The North Star: Navigating The Changing Realities of an Alzheimer’s or Dementia Diagnosis

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Dementia and Alzheimer’s are often used interchangeably. Dementia is the umbrella term for all progressive conditions with cognitive decline. Alzheimer’s, the most common form of dementia, is a progressive disease beginning with mild memory loss and possibly leading to loss of the ability to carry on a conversation and respond to the environment.

Over the years, one of the statements I have frequently heard from people living with dementia and their families is, ‘We are OK with what we have now, as long as it does not change and get any worse.’ There are two interesting facts about this:

People say it about every stage, from prediagnosis to end-of-life support.
It always gets ‘worse’ if this means the cognitive deterioration continues.

Understanding some of the key questions about supporting a person with dementia has become more crucial. According to the Alzheimer Society, there are currently 6.7 million Americans living with dementia, and one in three people over 80 will die with some type of dementia. However, the impact of the condition is much broader. For each person living with dementia, there are two to three people who report that supporting that person has a direct impact on their daily lives, including financially, as the dementia community in the U.S. ranges between 20-25 million.

When supporting a person with dementia, the north star to offer is a reality check and personal reflection. Let us look at three phases of reality that people often struggle to navigate.

‘Why Get Diagnosed If There Is No Cure?’

This question is often voiced. However, seven out of 10 Americans would like to receive a diagnosis early to provide for treatment and planning. There is a worry that people will receive a diagnosis that will upset them and it is important to remember that this emotion is a valid response. Dementia is a chronic degenerative condition, and many fear it. However, being upset is not the only emotional response that can be evoked. Many people report that receiving a diagnosis of dementia comes as a relief to them, making claims like– “I knew there was something wrong,”or “at least I know I am not going mad”.

With the right information and support, a dementia diagnosis can act as a wake-up call to prioritize what is most important in life. It makes people realize that time is precious and helps with planning on many levels. For some, it is going on that milestone 80th birthday vacation a couple of years earlier to ensure they can truly enjoy it. A diagnosis often motivates people to make decisions that will impact the future of their loved ones, such as financial and estate planning, so that they can be actively involved in the process. This focus on planning can create a sense of control and pave a clearer path for all involved in their journey.

‘Just The Two Of Us, Against The World’

People can live for many years with dementia. Partners in long-term, close relationships often establish codependent habits and routines–one cooks, one clears, one washes and one folds. Additionally, couples are accustomed to doing things together, such as the weekly bingo night, food shopping or weekend walks with the dog.

When we talk to partners about supporting a loved one with dementia, the transition is a common theme in every culture. The shifts can be subtle, but the plural language of a couple as a unit changes in every story. It starts with ‘We enjoy doing X’ or ‘We always go to our favorite place on Saturday nights.’ As time passes, the language changes to ‘Now I do X, and they do Y’. It is no longer a plural language. This is important to note, especially as this feels like a breakdown of the relationship for some.

From a person-centered perspective, the caregiving spouse is realistic, recognizes their partner’s real needs and acknowledges that they might need different support. Trying to pretend that nothing has changed can be painful and destructive to both. There comes a time when finding new and possibly more intimate ways of being ‘we’ is the best way to ensure both partners continue to follow the best path for their well-being.

‘I Just Want To Go Home.’

We have established that in the early stages of dementia, knowledge and understanding can help create a roadmap for days to come. As time progresses, it is not uncommon for that joint ‘we’ path to become slightly different, with people trying hard to move in the same direction together. People frequently struggle to know how to respond when a loved one living with dementia says something untruthful or out of character as an effect of the disease.

These instances can be incredibly painful for the person on the receiving end. Our natural reaction is to bring it back to reality, which can escalate negative emotions and behaviors on both sides. Although it is hard to do in the heat of the moment, the key is to ask, “What emotion is this statement reflecting?” Thinking of these untruths as codes for emotional needs can take some of the sting out. It can also help us explore ways to address and support these fundamental human and emotional needs differently. When we start to hear these statements as a general way of communicating a situation that is uncomfortable for the individual, rather than a concrete request, it opens many creative ways to try and address that emotional need. The north star here is that often, the underlying emotion is feeling unsafe, overlooked and out of control.

Source: https://www.alz.org/alzheimers-dementia/facts-figures

Michal Herz

Michal Herz, PhD is the Voice of Customer, Director at Assured Allies. She is also a member of ADI’s Global Accreditation Panel (Alzheimer Disease International). Michal has worked for over 20 years in the field of aging, specifically, dementia and care. Her work extends from the WHO, to academic roles in the UK, the Alzhimer society in Israel and other stops on the way.

September 21, 2023/by Assured Allies

Everything Everywhere All at Once: Assured Allies’ Sweep at the 2023 ILTCI Conference

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Last week’s annual ILTCI (Intercompany Long Term Care Insurance) conference, the biggest industry event of its kind, was an exciting event both for our company, Assured Allies, and for all who attended. We came into the conference with a lot of momentum, having just announced our $42.5M Series B funding round and investing in a bigger footprint at the conference than ever before. In addition to hosting both a kick-off cocktail hour and a bustling booth, we lent our talents to several panels led by Chief Growth Officer Larry Nisenson, US Legal Counsel Mike Gugig, Head of Actuarial Nkenge Blue, and more.

It was an investment that paid off for our company and the many others who are working hard to make the most of what many are calling a renaissance in the LTCI industry. Roughly 1,000 LTCI industry enthusiasts descended on Denver to discuss the state of long-term care insurance today and delve into the trends that will continue to drive disruption and innovation in 2023 and beyond. Innumerable conversations advanced lines of new or expanding business prospects for all comers.

Here’s a brief rundown of what we learned.

The wellness trend continues

Wellness continues to attract a lot of interest, driven both by consumer demand for how insurers can help them reduce risk, the push for better customer engagement, and, of course, a way to reduce carrier claims and cost. In the long-term care insurance industry, in particular, there is interest in how wellness can benefit policyholders, add value, and act as a catalyst for new innovative products to address longstanding gaps in the current marketplace.

Our Assured Allies booth was abuzz as a result, given that both of our products, AgeAssured and NeverStop, are in such alignment with the booming wellness trend. AgeAssured, our legacy product, provides 1:1 coaching and targeted, low-cost interventions for in-force policyholders so they can age in place successfully. One clear metric of success (more below) is that policyholders eligible for AgeAssured is expanding from ~60,000 to over 200,000 by the end of 2023.

Our latest launch, NeverStop, also sparked excitement as an innovative way for carriers to make long-term care insurance more accessible for the 65M Americans who need it. NeverStop is able to do this thanks to precision actuarial modeling, a streamlined all-digital underwriting process that takes less than an hour to complete, and a personalized wellness program that incentivizes policyholders to take healthy actions to feel better now and earn long-term care credits in the future.

Wellness has to demonstrate value

Talking about wellness and innovation is no longer enough. Carriers, distributors, and agents want to see proof that wellness adds value. This “show me the money” stage is perhaps both a natural organic moment in the industry after many years of innovative pilots and insuretechs as well as a reflection of increased investor scrutiny in tech and start-up companies generally, due to macroeconomic forces.

Assured Allies was fortunately well positioned to demonstrate that wellness really does benefit the bottom line, after years of a rigorous analytical approach. We have enough of a track record now with carriers who have been with us since we launched in 2019 to demonstrate that our AgeAssured aging-in-place interventions are both making life better for policyholders and saving money on claims. Specifically, AgeAssured reduces cost of claims by 18%; lowers incidence by 13%; and shifts claims from facility to home care by 15% (specifically for women).

Huge potential for new products

“It really seems like the resurgence in the long-term care insurance industry that everyone has been waiting for is finally taking off,” reported our Senior Product Actuary, Erik Wenzel, who gave a presentation titled “The Long-term Care Renaissance: New Product and Market Opportunities” in the actuarial track. Erik talked about the win-win opportunity of wellness for both policyholders and carriers, both for in-force business and for new business. Erik used NeverStop as an example of how carriers can create innovative new products that reduce cost while being more attractive to the 55-75 age demographic in helping them prevent age-related decline by taking healthy actions today. The audience response was very positive and several people asked for the slides.

“There is huge potential for new products,” said Wenzel after attending several other panels and touring the exhibition hall. “One is the worksite market in states like California that are considering long-term care legislation. Another area for innovation is less expensive, simpler products like short-term care that are targeted to older individuals who are not in perfect health.”

“It’s so important to get distribution input in the product creation process,” said Wenzel. “It was eye-opening to get real reactions at the conference to our new products, like the NeverStop Bridge Annuity that we launched with Equitrust.”

It’s more than just another booth

If you’re hosting a booth at a conference, you know you have to design a banner or two, offer some giveaway goodies, collect contact info, and hoist your logo up high. But stop and think: are you just going through the motions, or do you have a creative vision for your booth?

The kitchen counter at our booth invited people to sit, stay, and chat for awhile.

This year, our Director of Product Marketing Michelle Spinale pulled out all of the stops and went full domestic on our booth, with A-frame rooflines, architectural display nooks, and a kitchen counter with stools! Not only was this the perfect theme for our successful aging-in-place mission, but our booth design invited people to sit and stay awhile, with their lunch, their cocktail, or their tired feet. Chatting around the kitchen counter set a relaxing, informal tone that catalyzed many productive conversations.

Take-home momentum

This is an exciting time for the LTC industry. Our Assured Allies team members in attendance soaked up everything the conference had to offer and had dozens of productive conversations. We will reap the benefits over the upcoming quarter and beyond.

“ILTCI was an opportunity for us to introduce in a formal way our new product to the LTCI industry,” said VP of Marketing Andy Freedman. “This was the time where we showed up to tell our story of both our incredible products and the results we are seeing in the market. We were excited to be joined by our NeverStop partners at Equitrust and FedLife and have a chance to connect in person with many of our LTC carriers and partners. I got valuable feedback on our product and ideas for how we can introduce this innovation—and access to LTC insurance and wellness program—to many more adults around the country over the next year.”

March 24, 2023/by Katharine de Baun

At Invite Your Parents To Work Day, Parents Finally Understand What (the Heck) Their Grown Children Do at Assured Allies

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Ten years ago, in 2013, LinkedIn launched Bring in Your Parents Day, an effort inspired by research that over a third of parents don’t understand what their adult children do at work. Here at Assured Allies, we have often felt this gap most poignantly, especially because our parents and grandparents are precisely the demographic that our company is inspired to serve! And so it was in a spirit of hoped-for understanding and intergenerational bonding that our Tel-Aviv office recently invited all parents and grandparents to come to our first ever “Invite Your Parents to Work Day”, so they could see where their adult children go to work, meet some of their colleagues, and gain an understanding of what Assured Allies is all about.

To be honest, everyone was a little nervous about whether this day would be a success. Would parents come away with greater understanding—or greater confusion? Explaining what our company does is not for the faint of heart.

Let me explain. This difficulty is certainly not the fault of our company mission. “Make Successful Aging Accessible to All” continues to succeed as a start-up mission that draws passionate and hardworking employees, partners, and investors to join our efforts. And it’s a mission that any staff member can proudly share with their parents or grandparents: “Hey mom, we are dedicated to making your life better!” Or, as stated in the tagline for our latest product for adults 55+, NeverStop, we “Make Later, Greater!”

Co-Founder Afik Gal presents to a rapt roomful of parents.

That part is easy. But explaining the “how” and the “what” of our work can lead even the best of us into a maze of words with no clear exit strategy. Even if someone knows what insurtech means, they then have to grok machine learning, predictive analytics, and actuarial modeling. And that’s just the quantitative side. Our products also interface directly with older adults and combine human coaching, motivational interviewing, medical expertise, evidence-based interventions, and a growing ecosystem of providers and partners. The interdisciplinary and collaborative complexity of it all is a big part of why most of us love working here, but it also makes for a difficult elevator pitch. It’s no wonder that some of us direct people to watch this video instead of trying to explain it all.

So, how did our Invite your Parents to Work Day go? We are proud to announce that it went well, beyond-our-wildest-dreams well (and the food was delicious). Any snarkiness about high-tech industry stereotypes (the de rigueur exposed concrete walls and pitcher of vegan milk at the coffee counter were noted) evaporated quickly once co-founders Afik Gal and Roee Nahir began their presentations. They each gave a clear helicopter view of what our company does, and delved deep into the nuts and bolts of how things work.

Audience questions were spot-on! And satisfied.

As the morning wore on, you could see the light bulbs go off. Ah! Assured Allies is trying to create a kind of operating system of Successful Aging, a new platform that draws in many players to create something new and innovative, a whole ecosystem for older adults that provides financial security, reduces premature decline, and improves the odds of thriving and doing what one loves to do long into the future.

Our consumer research director, Michal Herz, who herself gave a fascinating talk about how siblings negotiate caregiving for older family members, noticed that “parents really felt welcomed and thought the day was carefully planned. It didn’t hurt that the chairs were comfortable and the food healthy and tasty.”

VP of Human Resources Michal Shahal, whose brainchild the day was, reflected, “Parents were so excited to hear words of praise about their children and to understand their day-to-day jobs. There was a lovely range of ages in the room—some parents were the same age as staff, while others were grandparents in their 90s.

“We won twice conducting this event—our employees had an opportunity to show their parents how relevant our mission is to their lives, and everyone expanded their social circle by meeting face-to-face. I could smell pride in the air throughout this event,” Shahal continued. “Proud parents, proud employees, proud bosses. We will definitely host this event in our Boston office.”

Parents’ response to the event says it all:

Thank you so much for the special evening and all of you efforts. It was really heartwarming and I feel like I gained tools and power for life.

You allowed us, the parents, a glance into the future at our lives a few years from now, and gave us the tools to think today how we want our lives to look later, when things may be more complicated or challenging.

I was so happy to learn what each of you do and feel the sense of community (or family) you have built here. It gave us as parents a feeling that we are part of your wonderful efforts.

Co-Founder Roee Nahir (L) wraps up the day with enthusiastic parents.

In sum, Invite Your Parents to Work Day was a resounding success, and worth the effort. The encouragement of our parents and families and their pride in our work only stoke further our collective passion to Make Successful Aging Accessible to All. And when we pick up the phone to answer our parent’s question, “How did your day go?” we have a lot more to talk about beyond “Fine.”

Check out this video for some highlights from the day!

March 5, 2023/by Katharine de Baun

Insurance Industry Leader Left his Comfort Zone to Launch NeverStop: Meet Larry Nisenson

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At the apex of his 25-year career as a leader in the insurance and financial services industry, Chief Growth Officer Larry Nisenson raised eyebrows by waltzing away from his laurels to join Assured Allies, a small insuretech startup. Larry, pictured above with his three lovely daughters, sat down recently with a glass of Cabernet and a nicely plated charcuterie to chat about his unexpected move, and why he believes that the company’s newest product, NeverStop, is going to revolutionize the long-term care insurance industry.

Why did you leave an impressive career in the global Insurance industry to join a little-known start-up like Assured Allies?

As a society, we must modernize the financing of aging, or how individuals pay to age on their own terms. To point to just one fact, 50% of Americans will require long-term care at some point in their lives but only 7% of adults over age 50 have a long-term care insurance policy. When I tried to address this issue inside large insurance companies, I found it difficult to gain much traction. Eventually, I was drawn to the nimbleness of a smaller company and loved that Assured Allies was also trying to solve the same problems I was. When I met the team and felt their enthusiasm and passion, I knew I had found my new home!

You’ve spoken publicly about the crying need for better retirement financing. As an experienced leader in this industry, what excites you about NeverStop’s innovative approach?

NeverStop excites me because it clears the path towards aging in place that tens of millions of unprepared consumers desperately need. The big risk today for consumers is that they will outlive their savings. Most would prefer to age at home if possible but have no long-term care safety net. NeverStop helps to solve this dilemma on both ends of the equation and that’s innovative. We show them how small, incremental lifestyle changes can have a dramatic impact on their ability to live independently. We then incent them with dollars that can be used for their long-term care needs as a way of keeping them motivated to live healthier. We co-create with each NeverStopper a customized journey for Successful Aging that inspires them to live their best life and afford the care they may need in the future.

Given that 10k people a day are turning 65 throughout the rest of the decade, we know there are over 60M consumers who could use our help today—and that number is growing. That is VERY exciting,

What has surprised you most, so far, about the launch of NeverStop in the marketplace?

The attention we’ve garnered in such a short time in the market has been a really pleasant surprise. We launched NeverStop on November 15, right before the Thanksgiving holiday, a season that many would argue is the slowest time in the insurance business. We saw incredible agent and distributor interest on day one and it hasn’t waned much since. Thousands of agents have been engaging with our marketing material and wanting to learn the NeverStop story.

How is leadership in a start-up environment different from what you’ve experienced in corporate environments?

There are so many differences that it’s hard to cover them all. Perhaps the biggest difference is the “owner” mentality of every employee. Our employees are so passionate about their job and the company mission that they truly inspire me everyday. We also believe in honest and direct conversations. These two aspects of our culture create a different environment for success than anything I experienced in a large corporation.

What have you learned on the job?

In a startup, everyone rolls their sleeves up and gets in the mix. From the cofounders to the newest employee, everyone comes to the table with the same mindset of ‘all hands on deck’ and ‘let’s get it done.’ In my 18 months here, I’ve never heard anyone say, “That’s not my job.” Instead, I hear, “How can I help?”

What’s the biggest hurdle that agents face in selling long-term care insurance to customers? How does NeverStop make that process easier?

On the road with VP of Marketing Andy Freedman.

Agents face several hurdles that make a long-term care sale really hard. Traditional long-term care insurance policies can take up to 60 days to get underwritten and approved—if they get approved at all. Our first NeverStop product is a guaranteed issue, meaning that everyone who applies is approved. Our state-of-the-art process is simple, low-friction, and fast. The underwriting is 100% virtual and the applicant receives their underwriting risk class within an hour, from start to finish. This is a game changer and much more inline with what consumers expect today.

Consumers have also been negatively affected by the industry-wide legacy of unexpected rising long-term care insurance premiums. Our actuarial team, which has responsibility for building and pricing our products, really learned from the mistakes of the past and we don’t expect that same type of premium volatility. For all of these reasons, NeverStop will benefit consumers and agents alike.

What do you predict for 2023 in terms of older adults and retirement financing?

Unfortunately, I think 2023 is going to prove an even harder year for aging adults, particularly if they’re on a fixed income. Social Security may have had its largest cost of living adjustment since 1981, but it still isn’t keeping pace with inflation. This means that older consumers have diminished buying power. Secondly, stock market volatility is going to continue in 2023 so older investors are going to have more sleepless nights worrying about their retirement portfolios. And sadly, bankruptcies for older adults will continue to climb as healthcare, food, and housing costs rise while housing prices level off or decline, reducing any equity they have to borrow against.

What are three predictions for Assured Allies in 2023?

Assured Allies will continue to scale and grow in 2023 as we take on more clients for the company’s flagship product, Age Assured, and its newest innovation, NeverStop. NeverStop will launch at least two new products. Age Assured’s results will continue to prove our hypothesis on the effectiveness of low-cost, precision-timed interventions for reducing claims and helping consumers to age in place.

You’re 56 years old. What does Successful Aging mean to you personally, and what are you doing today to get there?

Successful Aging for me is staying healthy enough to thrive in my next stage in life. My wife and I have raised three beautiful, smart, almost independent young women and now it’s our time to enjoy life. Whether it’s going away for a long weekend, continuing to work in our careers, volunteering, or grappling with whatever else life has in store for us, we want to be able to do it all.

To stay healthy for the long-term, I usually walk on my treadmill for 2-3 hours a day. I also try to eat fairly clean and I’m an intermittent faster, except over the holidays.

What’s a personal talent most people don’t know about you?

I owned a restaurant for many years and am a decent cook. My favorite foods usually involve my smoker, but I also make some kick-a** breads.

Katharine de Baun

Katharine has managed online content since 1994, when she founded one of the first parenting communities online. She is passionate about continually learning and promoting Successful Aging in her job as content manager at Assured Allies.

January 18, 2023/by Katharine de Baun

“What is Product Management Really Like at Assured Allies?” Don’t Ask ChatGPT. Ask Guy Hawes.

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Guy Hawes brings over 15 years of product management and team-building flair to his role as Head of Product – NeverStop Underwriting and Research at Assured Allies. In any meeting he’s known to ask, “What is the problem we are trying to solve here?” Recently he sat down with a pint of Guinness and a small plate of lumpia to chat about his work on the company’s latest product, NeverStop.

In your own words, what does a product manager actually do?

Product management is often confused with being a gap filler: 20% engineering, 20% design, 20% support, 20% business development, 20% marketing, 20% legal, 20% project management, etc. (yes, that’s already 100+%). But the true purpose of the role is to build great products that customers and markets love. So we tend to end up knowing how a lot of those different disciplines go together in order to deliver on that.

What traits, personality or otherwise, are good to have in this role?

Generally, I find that good product managers share two major traits. The first is curiosity, or the desire to understand the ‘why.’ The second is problem-solving, the ability to abstract the particulars of any one problem and identify how it can be resolved upstream of where it occurred. Ideally, you’re not just fixing the same issue over and over again, but adjusting the whole system of people/systems/flow in your organization so that a problem doesn’t happen again, or at least not in the same way. Also, personally, I find that all great product people are quirky in some way.

What excites you from a problem-manager perspective about the design of Assured Allies’ latest product, NeverStop?

At the crossroads of talent: Guy (center) and NeverStop teams celebrate the 2022 product launch.

NeverStop represents an entirely different and practical way of thinking about aging, while at the same time protecting the future for yourself and your loved ones. The potential for how and where NeverStop can grow as a business and in service to its customers is amazing!

What do you most enjoy about your job and what is most challenging?

I enjoy the people I work with here. There are many personalities, backgrounds, and personal stories, but we are all inspired by the company’s mission to make Successful Aging accessible to all.

The most challenging aspect of my job is making sure we start with customer problems first, and our problems second. Also, everyone has great ideas, but we can’t climb every mountain. I try to make sure that we stay pragmatic and focused on the most important things for the customer.

You work at the crossroads of many different teams in the company—marketing, engineering, clinical, legal, and research. Which team(s) do you spend most of your time with?

I try to spend time with each team as much as possible. Different teams have different proficiency levels in terms of understanding the goals and competencies that are needed to get their piece of a project done. Some are more independent than others, but sometimes those same teams need more help. I like to think of my role as the conductor of a cross-functional orchestra. It doesn’t matter if one group is playing well if another team is struggling; everybody needs to support each other to make great music.

How do you manage work-life balance?

I don’t believe in work-life balance. I believe in a work-life blend. You spend about one-third of your life working, so it might as well be something you enjoy and find meaningful.

Where does the weekend find you, typically?

Running household and family errands.

You’ve worked at a lot of start-ups. Why do you like them?

I actually enjoy the pressures that come with working for a start-up. Essentially, you might be operating with little to no safety net! Yet, no matter where I’ve worked, I also look for some element of ‘helping out the little guy.’ Which is one of the things that attracted me to Assured Allies. Beyond the whole insurance and financial aspect of it, ultimately we’re working to help people secure their own and their families’ futures.

Seems like standard product dev these days is deep into a trend of launching an intentionally “light” product or MVP (minimal viable product), and then iterating quickly afterwards based on customer feedback. Can you err too far in this direction?

You can err in the direction of either too heavy (i.e. extensively built out, researched, and detailed) or too light of a product when you launch. It is impossible to get it perfect all the time and it also depends on the product. For example, I wouldn’t feel comfortable launching a “light” electric car into the marketplace, but I would feel comfortable launching a light dog-walking app to see how people use it before investing more in particular features.

Whether light or heavy, however, the most important thing is to ensure that you have the ability to test, learn, and change quickly based on incoming data. I’ve seen Assured Allies do that time and time again, and I’m confident that we will do that with NeverStop too.

Katharine de Baun

January 3, 2023/by Katharine de Baun

Actually, Actuarial Science at Assured Allies Can Be Pretty Cool: Meet Erik Wenzel

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Erik Wenzel Senior Product Actuary at Assured Allies, recently lowered his 6’9” frame into a chair to munch on his favorite snack, popcorn, and to chat about how his team’s innovative work is foundational for exciting new products like NeverStop.

Actuarial science isn’t one of the better-known fields. In your own words, what do actuaries do? Why are they important?

Without actuaries, there would be no insurance! Traditionally, actuaries use math to determine how much money insurance companies should charge for policies and keep in reserve to pay for future claims. At Assured Allies, our actuaries perform this work, sure, but we also do so much more. We work with software developers, data scientists, and clinical experts to develop the innovative modeling capabilities and underwriting algorithms behind new products like NeverStop, which will really help to address our country’s retirement crisis.

What is innovative about NeverStop? How does it help fill unmet needs in the long-term care insurance and retirement financial product marketplace today?

NeverStop is a wellness program for adults 55+, offered in partnership with financial companies, that helps people to extend their healthy life years, prevent dementia and other diseases, and improve their financial security. It’s innovative on several fronts. First, our Assured Digital Underwriting shrinks a process that used to take several weeks into less than 30 minutes. Second, our members earn increased long-term care insurance (LTC) coverage by taking simple, evidence-based healthy actions on a personalized Aging Map. Third, our unique combination of actuarial and data science, technology, clinical expertise, member engagement, and wellness enables us to design new products that not only provide financial protection, but also enable people to extend their healthy years. Last but not least, our products are priced using super-fast and flexible actuarial software (we use the programming language Rust).

In sum, NeverStop is a product that goes far beyond its individual pieces to optimize value and reduce risk for the insurance company, the insurance agent, and the customer. It’s a win-win.

Actuary team on tour in Jerusalem (L to R): Erik Wenzel, Nkenge Blue, Paddy Horan, and Bob Yee.

The actuarial team seems very tight, hard-working and also fun. What’s unique about the NeverStop actuary team? What is your role and that of others on the team?

Our actuarial team is entirely remote, but we remain a tight group largely due to the warmth, inclusiveness and passion of our team members. We’ve had team offsites in Boston, Tel-Aviv, Raleigh, and Chicago where we often talk late into the evening about the nuances of underwriting, actuarial modeling, and product innovation. We also have fun! Our team outings have included cooking classes, escape rooms, apple picking, bowling, touring Jerusalem, and sporting events.

As a Senior Product Actuary, my role on the team is to evaluate new product designs. Taya Hnateyko, our Pricing Actuary, determines pricing and works with Paddy Horan, our Tech & Tools Actuary, to build actuarial models. Bob Yee is our resident actuarial and long-term care expert. Nkenge Blue is our leader and coordinates our work with other teams at Assured Allies.

Do actuaries have a reputation, and if so what is it? Is it well-deserved?

Actuaries have a reputation for being math geeks. This is at least partially true since you have to pass over seven grueling math-based exams that take over four years to complete. Every actuary loves math, but they are also well-rounded professionals who drive key business decisions and innovation at their companies. This is definitely the case at Assured Allies. Our team is integrated deeply into the new product innovation pipeline.

What do you like best about working at Assured Allies?

I’m a big fan of the company’s mission to enable all older adults to age successfully. I also love the company culture, which is very employee-centric, inclusive, and engaging. I enjoy going beyond traditional actuarial work, which typically involves repeating the same processes each quarter. I joined Assured Allies in April 2020 at the start of the pandemic, knowing it was a risk to leave a corporate job for a startup. That risk has paid off immensely. It’s very rewarding to do meaningful work that makes a real difference in the lives of older adults.

What do you like to do in your spare time?

My favorite way to unwind after work or on the weekend is by making a delicious and healthy meal for our family. I recharge my batteries by playing pick-up basketball at 5 am twice a week at a local rec center. I spend a lot of time with our five kids and enjoy weekly date nights with my wife. I also enjoy actively participating as a teacher and activity leader for children at my church.

How has your view of aging changed since working at Assured Allies? What do you hope for your own aging?

Skiing through the ages: Erik with two of his kids on the slopes.

Diving into the science of aging at Assured Allies has opened my eyes as to how society’s views on aging are often false and limiting. I’ve watched each of my four grandparents experience different aging paths, from Parkinson’s, cognitive decline caused by a stroke, neurological disease, and cancer. Watching their struggles, I am motivated to learn about these diseases and do everything I can to prevent them, primarily through sleep, exercise, and healthy eating. I am excited about aging and plan to continue skiing, cooking, and playing basketball until I’m in my 90s, while taking full advantage of future medical advances.

What’s something about you that no one would ever guess is true?

On my first day at Assured Allies, I accepted the company’s challenge to do an impromptu freestyle rap over Zoom, a challenge that no one else has ever accepted (luckily we were a small team back then and the meeting was not recorded).

Katharine de Baun

December 8, 2022/by Katharine de Baun